NUS Business School MBA Programme Jan 2013 (commencing week of Jan 14, ending week of Jan 28)

Private Equity – 4 Module Credits

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Course Objectives

  1. To provide a basic framework of the Private Equity industry.
  2. To expand on the principles of Private Equity with particular focus on leveraged buy outs.
  3. To bring to life these principles through a “practitioners guide” to the subject by the illustration of several case studies and panel discussions. The cases will be brought “alive” by visiting CEO’s and senior private equity executives who actually were involved in the transactions. The cases will cover a variety of situations – by geography, sector, size, and deal type. In addition, Limited Partners who are investors in Private Equity will also be invited to provide insight into the industry.
  4. To link these real world discussions with a common framework of “Risk-Reward” analysis, with the objective of providing a useful tool for class participantsthat brings together the various disciplines taught during the entire MBA programme.

Course Leader

The course will be led by Veronica Eng. Veronica has over 25 years of experience in private equity at Permira.She is a founder partner of Permira. Permira is one of the largest and most experienced European based private equity firms with a global reach, operating from 12 offices across Europe, US and Asia.Since its beginning in 1985, the firm has managed over US$25billion in committed capital.

Veronica serves on the Board of Permira, chairs the Permira funds’ Investment Committee and has oversight of the firm’s operation in Asia.

Veronica has worked in wide ranging roles on many Permira transactions across sectors and countries including acquisitions, exits, restructuring as well as financings. Prior to joining Permira, Veronica was Head of Corporate Finance at Schroders in Singapore.

Veronica has a BBA Hons (1st) from the University of Singapore.

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DRAFT Summary of Course Content

Session / Time Required / Agenda
1 / 2 hours / Introduction to Private Equity Industry
2a / 2 hours / Introduction to Leveraged Buyouts
2b / 2 hours / Introduction to Leveraged Buyouts
3 / 2 hours / Presentation by students on funding structures for a LBO case
4 / 3 hours / LP Insight and Panel discussions (3 External)
5 / 3 hours / 1 Consumer Case Study - Strategic Repositioning (1 External)
6 / 3 hours / 1 TMT Case Study - Supporting Growth (1/2 External)
7 / 3 hours / 1 TMT Case Study – Motivating Talent (1 External)
8 / 3 hours / 1 Case Study- Expect the Unexpected (1 External)
9 / 3 hours / Presentation by students on critique of each case study

The remaining 8 - 10 hours of contact timewill includetopics such as:

a)Choosing CEOs (with participation of a PE head-hunter)

b)Private Equity development in different regions

c)Probably 2 other case studies

d)Changing face of private equity

e)A day in the life of a private equity executive

f)The inside working of a private equity firm

g)The life of a private equity transaction

h)Sourcing transactions

i)Due diligence process and advisers (with participation of PE due diligence partners from PWC/KPMG)

j)Exit preparation - trade sale, IPOs

k)Management incentives

l)Negotiations - vendors, banks, management

Students will be rigorously graded upon the QUALITY of their class participation and final case study reports. Students are advised not to select this course if they cannot make the commitment of thisintensive course schedule, which requires about 10 - 13 hours of contact time per week over a 3-week period. This is also because the course will involve several extremely busy and highly-respected guest speakers from Europe and Asia who are generously donating their time byflying to Singapore to participate in this course. The course will additionally see the constant participation of Singapore’s leading PE firms’ and SWF’s senior private equity executives and other employees as observers and engagers in the classroom.

Hopefully, the course will reward this effort with a stimulating series of discussions and a good understanding of the subject matter for your future careers. Private equity is now a part of mainstream business, and will continue to remain as such in the future.

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